Str 581 final exam 2

1. STR 581 Final Exam 2
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1) ________ consists of people, equipment, and procedures to gather, sort, analyze,
evaluate, and distribute needed, timely, and accurate information to marketing
decision makers.
2) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage
the innovation proces
3) ________ is the difference between the prospective customer’s evaluation of all
the benefits and all the costs of an offering and the perceived alternatives.
4) A company can take several steps to improve the quality of its marketing
intelligence. If the company purchases competitive products for study, attends open
houses and trade shows, and reads competitors’ published reports and stockholder
information, the company is using ________ to improve the quality of its marketing
intelligence.
5) A ________ is a set of procedures and sources managers use to obtain everyday
information about developments in the marketing environment.
6) A(n) ________ is any good, service, or idea that is perceived by someone as new.
7) Total customer satisfaction is the general feeling of pleasure or disappointment
that results from comparing perceived performance to expectations. To achieve
total customer satisfaction, organizations need to_____________.
8) Particularly when shopping for ego-sensitive products such as perfumes and
expensive cars, many consumers use price as an indicator of ________.
9) A ________ consists of a group of customers who share a similar set of needs and
wants.10) A firm has to consider many factors in setting its pricing policy. We list
these as a six-step process. Which of the following is NOT one of these steps?
11) A marketing manager needs to know the cost of the research project before
approving it. During which step in the marketing research process would such a
consideration most likely take place?
12) Which of the following types of marketing research firms would best be
described as one that gathers consumer and trade information which they sell for a
fee (e.g., Nielsen Media Research)?

2. 13) Companies normally budget marketing research at ________ percent of
company sales.
14) The marketing communications mix consists of six major modes of
communications. Which of the following is NOT one of these modes?
15) The chief disadvantage to a firm that decides to follow a product specialization
strategy in selecting target markets is ________.
16) New-to-the- world products are ________.
17) Major retailer types include the following EXCEPT ________.
18) Marketing communications can contribute to brand equity by establishing the
brand in memory and to________ (in)a brand image.
19) Price has operated as the major determinant of buyer choice among poorer
nations, among poorer groups, and with ________ products.
20) ________ communicates a company’s intended value positioning of its product
or brand to the market.
21) Following the ________ approach to target market selection encompasses a
strong knowledge of the segment’s needs, a strong market presence, and operating
economies through specializing in production, distribution, and promotion.
22) Some intermediaries use the following: strategic planning, advanced
information systems, sophisticated marketing tools, measure performance on a
return-on-investment basis, segment their markets, improve their target marketing
and positioning, and ________.
23) To reach Generation Y, rock band Foo Fighters created a digital street team that
sends targeted e-mail messages to members who “get the latest news, exclusive
audio/video sneak previews, tons of chances to win great Foo Fighters prizes, and
become part of the Foo Fighters Family.” Which of the following techniques for
reaching Generation Y are the Foo Fighters using?
24) The traditional view of conflict is the belief that conflict is ____
25) The two general approaches to bargaining are known as ________.
26) Which of the following is NOT included in the definition of conflict?
27) If no one is aware of conflict, it is generally agreed that _____.
28) Which of the following statements about leadership is true?

3. 29) Which of the following statements best defines a work group?
30) _____ bargaining is negotiation that seeks to divide a “fixed pie.”
31) Examples of off-the-job training include all of the following except _____.
32) Between the late 1960s and the mid-1980s, the use of written tests declined
because they were characterized as _____.
33) Which type of skill training has become increasingly important in organizations?
34) According to a recent survey, about ___ percent of employees working in the
1,000 largest U.S. corporations receive ethics training.
35) _____ can be used to increase the perception that employees are treated fairly.
36) Whenever Jane is successful she takes full credit for what has happened, but
whenever she is unsuccessful she attributes her failure to bad luck or blames one of
her fellow employees. She is guilty of _____.
37) A task that is subdivided into many separate jobs is considered to have _____.
38) Organizational structure has six key elements. Which of the following is not one
of these elements?
39) What term is used for the tendency of an individual to attribute his own
successes to internal factors while putting the blame for failures on external factors?
40) Which of the following is not a primary force for change in organizations
41) Which of the following would NOT be classified as a time-series technique?
42) According to Goldratt and Fox, a useful performance measure to treat inventory
is ______.
43) According to David Maister, the most complex projects requiring innovation and
creativity are called _________.
44) Operations stage toolkit for the Data Analysis and Solution Development phase
include(s): I. SPC tools II. Bottleneck analysis III. Computer simulation IV. Balanced
scoreboard
45) If the system contains a bottleneck, the _______ is the best place for control. If
there is no bottleneck, the __________ is the best place for control.

4. 46) __________ says to recognize the value of hidden options in a situation, such as
the foreign exchange options in some derivative instruments.
47) Due to asymmetric information, the market fears that a firm issuing securities
will do so when the stock is _________.
48) Under capital rationing, given the choice among several equally attractive
investments, the best tool to use is the __________.
49) A checking account is __________.
50) __________ says to look for opportunities to invest in positive-NPV projects in
foreign markets or to develop derivatives or design arrangements that enable firms
to cope better with the risks they face in their foreign operations.
51) __________ says to seek out investments that offer the greatest expected risk-
adjusted real return.
52) An investor's risky portfolio is made up of individual stocks. Which of the
following statements about this portfolio is true?
53) Which of the following statements is true?
54) An all-equity-financed firm would __________.
55) “Hard” capital rationing refers to the rationing __________.
56) A key variable covered in our text for the Black-Scholes OPM is __________.
57) The managerial decision best addresses which of the following questions?
58) The financing decision best addresses which of the following questions?
59) Which of these investments would you expect to have the highest rate of return
for the next 20 years?
60) Dimensions of risk include __________.
61) __________ says to recognize the value of options contained in derivatives.
62) Which of the following is (are) true?
63) You do a study and find out that, on average, stock prices for firms decrease 3%
for every 5% decrease in inside ownership. You are watching the nightly business
report and find out that Magic Tape’s stock has announced that insiders have sold
10% of their holdings. You are concerned because you own 1,000 shares of Magic

5. Tape and it had closed the day before unchanged at $30 per share. If markets are at
least semi-strong form efficient, what would you expect?
64) Which of the following is not an advantage of going public?
65) Incremental analysis would not be appropriate for
66) Undertaker Corporation has a joint process that produces three products: P, G,
and A. Each product may be sold at split-off or processed further and then sold.
Joint processing costs for a year amount to $25,000. Other relevant data are as
follows:
Product Sales Value at Split-off Processing Costs after Split-off Sales Value at
Completion
P $62,000 $5,000 $88,000
G 12,500 6,500 19,000
A 9,400 5,000 12,000
67) Cena Corporation has a joint process that produces three products: P, G, and A.
Each product may be sold at split-off or processed further and then sold. Joint-
processing costs for a year amount to $25,000. Other relevant data are as follows:
Product Sales Value at Split-off Processing Costs after Split-off Sales Value at
Completion
P $32,000 $5,000 $40,000
G 16,500 7,500 29,000
A 6,400 8,000 10,00
Once product P is produced, processing it further will cause profits to _____
68) A transfer price exists when two segments of the same organization sell _____.
69) For what purpose is the theory of constraints used?
70) A _____ gives the expected sales under a given set of conditions.
71) Important factors considered by sales forecasters include all of the following
except _____.
72) Effectiveness is indicated by _____.

6. 73) _____ is an important factor considered by sales forecasters.
74) At the break-even point of 2,000 units, variable costs are $55,000, and fixed
costs are $32,000. How much is the selling price per unit?
75) A company has total fixed costs of $120,000 and a contribution margin ratio of
20%. The total sales necessary to break even are
76) A cost which remains constant per unit at various levels of activity is a
77) For an activity base to be useful in cost behavior analysis,
78) An absorption-costing income statement separates cost into the major
categories of_____.
79) The _____ is/are NOT a difference between the standard absorption-costing
format and the variable-costing format.
80) _____ costs relate to more than one product and cannot be separately identified
with an individual product
81) The last step in activity-based costing is to
82) Jack and Jill form a partnership. Jack runs the business in New York, while Jill
vacations in Hawaii. During the time Jill is away from the business, Jack increases
the debts of the business by $20,000. Which of the following statements is true
regarding this debt?
83) The _____ is not one of the three major financial statements.
84) A local retail shop has been operating as a sole proprietorship. The business is
growing and now the owner wants to incorporate. Which of the following is not a
reason for this owner to incorporate?
85) The _____ is also called the statement of financial position.
86) The theory of business social responsibility that holds that a business owes
duties solely to produce the highest return for its shareholders is:
87) Which country does the text describe as becoming the largest producer and
consumer of many of the world's goods
88) The centerpiece of most diversity programs is _____.
89) Which social responsibility theory has been advocated by Novel Prizewinning
economist Milton Friedman

7. 90) Although the U.S. has had a longstanding agreement with ___________, after
the passage of NAFTA, _________ became the United States' second largest trading
partner.
91) Which of the following is correct about litigating commercial disputes?
92) Which article of the United States Constitution deals with the judicial power of
the federal government?
93) When an economist says that the demand for a product has increased, this
means that:
94) When movie ticket prices increase, families tend to spend less time watching
movies and more time at home watching videos instead. This best reflects
95) The force behind globalization in _____ was the amount of muscle, horsepower,
wind power, or steam power that a country could deploy.
96) The Global, Web-Based Platform enables individuals to do which of the
following?
97) _____ is the integration of economic, social, cultural, and ecological facets of life,
enabled by information technologies.
98) A _____ scale is a scale that scores an object or property without making a
direct comparison to another object or property.
99) Marketing research is now about a ________ billion industry globally.
100) The use of a(n) _____ serves as a comparison to assess the existence and
potency of the manipulation.
STR 581 Final Exam 2
PLEASE DOWNLOAD THE ANSWERS HERE!!!